Mumbai, March 1 -- The scrip was listed at Rs 135, a premium of 42.11 % compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 141.75 and a low of Rs 135. About 25.77 lakh shares of the company changed hands at the counter.

Sadhav Shipping's IPO was subscribed 120.72 times. The issue opened for bidding on 23 February 2024 and it closed on 27 February 2023. The price of the IPO was set at Rs 95 per share.

The company intends to utilize the net proceeds for repayment/prepayment, in part or full of certain outstanding borrowings availed by the company, part funding of capital expenditure to purchase/ acquire additional boats/ vessels, ...